A. J. White does well
A. J. White Ltd, increased unaudited group net paid profit 54.4 per cent to $70,377 in the six months to December 31 compared with the $45,571 net profit earned for the previous comparable six months.
The Wellington subsidiary company, which in the previous period made a loss is now making a useful contribution to group profit. Taxation relief recently granted on trading stock valuation has been calculated at the proportion of; the taxation savings for the six months.
Disregarding this allowance the tax paid profit of the group was still 19.5 per cent greater than in the previous comparable period. Retail furniture trading is proving difficult, and unless economic conditions improve it is considered that the increased profit level will be difficult to maintain for the second six months, the report says.
An unchanged interim dividend of 5 per cent (5c a share) will be paid on April
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Press, 23 February 1978, Page 22
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153A. J. White does well Press, 23 February 1978, Page 22
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